June 1, 2012

EU pig prices up due to good weather, high demand

Due to improved weather, strong demand and continuing strong exports, pig prices have increased in a number of EU countries by as much as EUR0.06 (US$0.07) per kilogramme.

Prices in Ireland for the week ended May 20 edged closer to the EU average, reaching 96%, for the first time since August 2011. However, that is likely to fall back due to EU prices moving ahead recently.

Irish pig slaughterings are running 5% ahead of last year, compared to 1% ahead in Northern Ireland and 4% ahead in the UK. Irish sow slaughterings are running 12% ahead.

IFA reports export plant flat rate quotes mostly at EUR0.158-0.163 (US$0.19-0.20) per kilogramme, plus a welfare bonus of EUR0.02-0.06 (US$0.02-0.07).

Pork slaughterers pay EUR0.162-0.168 (US$0.20-0.21). Sows are at EUR0.105-0.115 (US$0.13-0.14) per kilogramme deadweight.